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Thakral Corporation, a Singapore-based property investment firm, has invested US$750,000 to acquire a minority stake in AI-powered analytics platform Climate Alpha.
Founded in 2021 by Parag Khanna, Climate Alpha uses machine learning to generate forecasts for land and property value for every year up to 2040 under multiple climate scenarios, according to a statement. The company had previously said it has already generated risk-adjusted valuations for more than 200,000 buildings.
Thakral said the investment is part of its strategy to capitalize on tech innovations and impact investing. Last year, it also injected capital into Fraction, a Hong Kong- and Thailand-based fintech firm that tokenizes real estate, and Singapore-based digital securities platform InvestaX.
Thakral has been listed on the Singapore Exchange (SGX) Mainboard since December 1995. Its core real estate investment portfolio is located in Australia, Japan, and Singapore.
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Editing by Thu Huong Le and Arpit Nayak
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